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FIA reaction to planned phase out of Chinese ownership restrictions

FIA reaction to planned phase out of Chinese ownership restrictions

Washington, D.C.—FIA today released a statement from Walt Lukken, president and chief executive officer of FIA, regarding an announcement by the China State Council that the ownership restrictions on certain segments of the financial services industry will be phased out over the next several years.

"FIA welcomes China’s decision to ease restrictions on foreign ownership of securities brokers and futures companies, which will enable many institutions to engage more directly in China’s expanding markets. As more foreign firms offer their services in China, this will expand the range of options that Chinese investors and hedgers can use to access Chinese futures markets and will contribute to the development of China's financial sector."